Mastercard is deepening its global payments partnership with Uber to improve experiences for drivers, couriers and Mastercard cardholders using the Uber platform. Uber will leverage a range of Mastercard products and services – including Mastercard Move for real-time disbursements, Mastercard One Credential to simplify the payment experience, and Mastercard Gateway capabilities for collections – to support its business operations. The Uber Pro Card, which Mastercard already supports in the United States and Canada, has been renewed in those markets and will be expanded to new ones, including the United Kingdom. The card allows Uber drivers and couriers to receive instant payments at no cost after every trip or delivery and offers benefits like leading cash-back rewards on gas purchases. Along with this expansion, the Uber Pro Card will also deliver enhanced payment experiences by leveraging Mastercard One Credential, a single digitally connected credential offering greater payment choice. With Mastercard One Credential, drivers and couriers will gain flexible and innovative options for managing their finances, supporting greater financial resilience. Uber’s global customer base will also benefit from Mastercard’s consumer payment products and services, including its Offers Platform. This will add increased, unique benefits and value to Mastercard cardholders purchasing delivery and mobility services on Uber’s platform. Mastercard Gateway, the company’s global processing and fraud prevention solution, will also be leveraged to enable Uber to accept a wide range of digital transactions quickly and securely.
Revolut has extended access to its retail account for 16-17 year olds, leaving them free from adult supervision as they become financially independent
Revolut has extended access to its retail account for 16-17 year olds, leaving them free from adult supervision in kids accounts as they become financially independent. Graduating from the youngest offering, aimed at 6-15 year olds, older teens will be granted access to most of Revolut’s key features, Users will be able to get their salaries paid into their account, budget with pockets and enjoy the same foreign exchange benefits when spending abroad. Certain services including investing and crypto trading will not be accessible. Carlo Spada, head of youth products at Revolut says: “Whether they’re earning their first payslip, heading out without their parents for the first time, or saving for something important, we believe 16-17 year olds deserve access to some of the same powerful tools our adult customers rely on. Each feature is designed to help customers of all ages grow in money confidence and we’re now empowering our younger customers even further as they prepare to head into adulthood.” At the same time, Revolut’s youth account — previously known as Revolut <18 — will now be labelled ‘Kids & Teens’ in the Revolut app. This account continues to service users aged 6-15 under parental supervision.
Mastercard’s automated solution for virtual cards adds advanced straight-through processing that fully automates virtual card payments and reconciliation through a single connection, multi-language and secure card-on-file support
Mastercard is launching widescale global availability of Mastercard Receivables Manager, its automated solution that makes virtual cards more efficient, secure and cost-effective for businesses to accept. Mastercard Receivables Manager has been levelled up with new capabilities such as multi-language and secure card-on-file to support digital commerce around the world. Now available globally, acquiring partners are embracing the innovation to modernize supplier virtual card acceptance experiences across major card networks and help customers strengthen buyer-supplier relationships. To give payment service providers greater flexibility in how they offer B2B payment innovations, Mastercard is also introducing Commercial Direct Payments, an advanced straight-through processing solution that fully automates virtual card payments and reconciliation. When the buyer initiates a card payment, Commercial Direct Payments enables it to be processed directly with the supplier’s acquirer – eliminating all manual steps for making and receiving payments. The funds are automatically deposited into the supplier’s account and the detailed remittance data can be seamlessly integrated into the AR workflow. Key benefits include: Driving supplier efficiency with automated reconciliation: Suppliers can easily reconcile payments using the rich remittance data that can flow directly into their ERP systems, freeing up resources to focus on more strategic tasks. Unlocking automated B2B payment processing at scale: Issuers and acquirers can quickly unlock the benefits of straight through processing without the need for multiple costly and time-intensive connections with one another. Commercial Direct Payments streamlines this process by providing a single connection to Mastercard and enabling the flow of secure, standardized payment and remittance data between issuers and acquirers. Strengthening buyer-supplier relationships: Buyers have the flexibility to pay with physical or virtual cards to improve cash flow, while suppliers can get paid securely, efficiently, and on time. Elavon and Run Payments are among the many innovative payment providers in the United States offering Mastercard Receivables Manager to address manual processing and reconciliation challenges – which some 42% of suppliers across the nation note as top barriers to acceptance.
Mastercard’s automated solution for virtual cards adds advanced straight-through processing that fully automates virtual card payments and reconciliation through a single connection, multi-language and secure card-on-file support
Mastercard is launching widescale global availability of Mastercard Receivables Manager, its automated solution that makes virtual cards more efficient, secure and cost-effective for businesses to accept. Mastercard Receivables Manager has been levelled up with new capabilities such as multi-language and secure card-on-file to support digital commerce around the world. Now available globally, acquiring partners are embracing the innovation to modernize supplier virtual card acceptance experiences across major card networks and help customers strengthen buyer-supplier relationships. To give payment service providers greater flexibility in how they offer B2B payment innovations, Mastercard is also introducing Commercial Direct Payments, an advanced straight-through processing solution that fully automates virtual card payments and reconciliation. When the buyer initiates a card payment, Commercial Direct Payments enables it to be processed directly with the supplier’s acquirer – eliminating all manual steps for making and receiving payments. The funds are automatically deposited into the supplier’s account and the detailed remittance data can be seamlessly integrated into the AR workflow. Key benefits include: Driving supplier efficiency with automated reconciliation: Suppliers can easily reconcile payments using the rich remittance data that can flow directly into their ERP systems, freeing up resources to focus on more strategic tasks. Unlocking automated B2B payment processing at scale: Issuers and acquirers can quickly unlock the benefits of straight through processing without the need for multiple costly and time-intensive connections with one another. Commercial Direct Payments streamlines this process by providing a single connection to Mastercard and enabling the flow of secure, standardized payment and remittance data between issuers and acquirers. Strengthening buyer-supplier relationships: Buyers have the flexibility to pay with physical or virtual cards to improve cash flow, while suppliers can get paid securely, efficiently, and on time. Elavon and Run Payments are among the many innovative payment providers in the United States offering Mastercard Receivables Manager to address manual processing and reconciliation challenges – which some 42% of suppliers across the nation note as top barriers to acceptance.
Samsung Galaxy Z Fold 7 and Flip 7 are seeing 60% jump in pre-orders through US carriers in part due to in-store shoppers taking advantage of getting their hands on the devices for the touch and feel of thin & light designs and “camera improvements”
Samsung is touting a smash hit debut for its Galaxy Z Fold 7 and Flip 7, with the company’s foldables making a splash in the US market with up to 50% increase in initial sales, and some broken records too. Samsung says that the Galaxy Z Fold 7 and Flip 7 have received “unprecedented consumer demand” since their launch, with both devices seeing a 25% increase in total pre-orders, with a 60% jump in pre-orders through US carriers. Samsung attributes the latter in part to in-store shoppers who are “taking advantage of getting their hands on the devices” with the thin & light designs and “camera improvements” apparently being the main points of interest. Samsung adds that the Galaxy Z Fold 7, in particular, is a major improvement. The latest generation is apparently seeing a 50% increase in demand over the Galaxy Z Fold 6 that launched before it. Samsung’s Drew Blackard says: Foldables have reached an inflection point as they are becoming a mainstream choice for users. Now on our seventh generation, we’ve addressed consumer feedback year after year and have arrived at the kind of experience you can’t get on any other device. When people go hands-on with a Z series device, they’re hooked — and now it’s all coming together with record-breaking numbers. The Fold 7 addresses nearly every complaint (except for battery life) this time around. Samsung also adds that its colorful models are the most popular ones this time around, with the “Blue Shadow” Galaxy Z Fold 7 making up “nearly half” of pre-orders, while the Coralred Galaxy Z Flip 7 made up roughly 25% of pre-orders, beating the company’s expectations.
Charles Schwab to provide guidance and expertise to develop the 4-H financial literacy curriculum targeted at schools in rural areas; also a training program for its employees who wish to become a financial literacy volunteer
Charles Schwab in partnership with 4-H is bringing investing and finance curriculum to hundreds of thousands of kids in the state. The comprehensive leadership program offers several curricular options in addition to the traditional skills of rural life. Technology, engineering, health, and, thanks to Charles Schwab, financial literacy are also integral to the program. The collaboration with 4-H and its rural-leaning population balanced the firm’s Boys & Girls Clubs assistance, which were usually in more urban settings. Through its 65,000 members and other relationships with schools, 4-H reaches between 600,000 and 800,000 kids each year. Schwab provides guidance and expertise to develop the 4-H financial literacy curriculum, which is delivered through the organization’s network of clubs and school programs. “Schwab also offers a training program for its employees who wish to become a financial literacy volunteer at one of the company’s nonprofit partners or a location of the employee’s choice. The digital training course prepares them to deliver the resources that the company has developed in collaboration with partners. The company has a robust culture of volunteering. Last year, 2,400 employees based at Schwab’s Westlake headquarters contributed nearly 33,000 volunteer hours to a variety of causes, with many focusing on financial literacy. Nationwide, 12,300 employees volunteered 160,000 hours last year. Schwab has committed significant resources to its financial literary program with 4-H, called Smart Sense. The program is delivered at in-person 4-H events and is also available digitally through 4-H’s free online program, Clover. The online platform gamifies financial education to make it more engaging and accessible to this generation of digital natives. Over the past two years, Schwab has invested more than $1 million in the program and its educators, adding six new personal finance courses, a mobile app, educator training, and a national promotion effort. The Charles Schwab Foundation contributed more than $21 million to nonprofits nationwide last year, including $3.3 million to local organizations. The 4-H collaboration helps to build on its reputation and diversify the youth organization’s curriculum. Its programs provide a comprehensive leadership and educational development program that covers all types of topic areas.
Meta is rolling out a standalone AI app that can create personalized responses by drawing on the information the user has already chosen to share on Meta products
After integrating Meta AI into WhatsApp, Instagram, Facebook, and Messenger, Meta is rolling out a stand-alone AI app which allows users to access Meta AI in an app, similar to the ChatGPT app and other AI assistant apps. To win over users, Meta is trying to leverage what makes it different from companies like OpenAI and Anthropic — Meta already has a sense of who you are, what you like, and who you hang out with based on years of data that you’ve likely shared on Facebook or Instagram. Meta’s AI app can differentiate itself from existing AI assistants because it can “[draw] on information you’ve already chosen to share on Meta products,” the company said, such as your profile and the content you engage with. So far, these personalized responses will be available in the U.S. and Canada. You can also give Meta more information about you to remember for future conversations with its AI. Meta’s AI app also introduces a Discover feed, where you can share how you’re using AI with your friends — in a mock-up image, Meta shows someone asking the AI to describe them in three emojis, which they then shared with their friends. A user’s interactions with Meta AI will only be shared to the feed if they choose to do so.